A Proposal to Convert Cash to Electronic Payments Systems

Iraqi Banking News –

Financial expert suggested the name Hadi, cash handling financial converting to electronic cash to improve the payments system in the country.

Said Hadi, “It has to be working on the development of the Iraqi banking system with the latest technologies to allow him to enter the modern electronic systems for financial transactions, cash handling and transfer cash to the financial-mail, just like most of the countries of the world.”

He said: “The process of cash transfer will improve the payments system in the country and facilitate financial transactions, especially after the advent of e-commerce and spread widely among most countries, especially that Iraq has business dealings with big countries in the region and the countries of East Asia”, calling for “the need for legislation Rules governing the work in ways that payment.

He stressed the importance of the introduction of “national divider” which was adopted by the central bank, which includes linking local banks unified communications network managed by a specialized international company and under the direct supervision by the central bank, to support electronic financial transactions.